Subject: File No. S7-08-09
From: Scott M Kilcoyne

May 5, 2009

I feel the removal of the previous short selling rule was a huge mistake that has allowed hundreds of billions of dollars to be destroyed, particularly in the financial sector. The "up-tick" rule needs to be reinstated on a permanent basis to be consistent and avoid confusion. "Naken shorting", the overly leveraged SKF fund are means for destroying a stock price improperly. Such mechanisms have been abused and can not be allowed. They make the market unfair and in the case of the SKF they add to confusion. The stock market should be fair and clear. The stock market should not be confusing and favor large funds with enormous capital.

Please reinstate the "up-tick" rule that was erroneously removed and please discontinue funds like the SKF UltraShort Financials ProShares, which confuse and abuse the market by leveraging their funds to have greater impact than should be allowed.

Thank you,
Scott Kilcoyne
Longmont, CO 80501